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The Kenya Property Developers Association (KPDA) has signed a memorandum of understanding (MoU) with the Kenya National Chamber of Commerce and Industry (KNCCI) in a partnership designed to unlock new financing models and accelerate delivery of affordable housing in Kenya.
The collaboration is expected to combine KPDAโs technical expertise and industry insights with KNCCIโs nationwide reach and policy advocacy capacity.
By working together, the two bodies aim to streamline approval processes, push for consistent housing policies, and create an investment-friendly environment for real estate development.
Kenyaโs real estate sector currently contributes about 10% of the countryโs GDP, making it one of the fastest-growing industries in the region. According to KNCCI, 22% of Kenyans live in urban areas, with the urban population expanding by 4.2% annually. Nairobi has already emerged among the top five fastest-growing real estate markets in Africa.
Yet the country faces a significant housing shortfall. Kenya requires approximately 200,000 new units annually but produces only 50,000, leaving a deficit of 150,000 homes each year. This imbalance has driven housing prices up by nearly 100% since 2004.
KNCCI President Dr. Eric Rutto noted that scaling up construction would not only address housing needs but also generate critical revenue and jobs.
He further highlighted that while demand for office and retail space continues to evolveโdriven by Nairobiโs role as a regional hub for banks, multinationals, and tech firmsโoversupply in the high-end office market is prompting a shift toward flexible leasing terms and co-working spaces.
Retail space, anchored by malls such as Two Rivers, Westgate, Garden City, and Sarit Centre, continues to expand, while growth in e-commerce and manufacturing is fueling demand for modern warehouses and logistics hubs in areas such as Athi River, Tatu City, Ruiru, and Naivasha, supported by major infrastructure investments like the Standard Gauge Railway and the Nairobi Expressway.
ยฉCitizen Digital, Kenya
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The collaboration is expected to combine KPDAโs technical expertise and industry insights with KNCCIโs nationwide reach and policy advocacy capacity.
The Kenya Property Developers Association (KPDA) has signed a memorandum of understanding (MoU) with the Kenya National Chamber of Commerce and Industry (KNCCI) in a partnership designed to unlock new financing models and accelerate delivery of affordable housing in Kenya.
The collaboration is expected to combine KPDAโs technical expertise and industry insights with KNCCIโs nationwide reach and policy advocacy capacity.
By working together, the two bodies aim to streamline approval processes, push for consistent housing policies, and create an investment-friendly environment for real estate development.
Kenyaโs real estate sector currently contributes about 10% of the countryโs GDP, making it one of the fastest-growing industries in the region. According to KNCCI, 22% of Kenyans live in urban areas, with the urban population expanding by 4.2% annually. Nairobi has already emerged among the top five fastest-growing real estate markets in Africa.
Yet the country faces a significant housing shortfall. Kenya requires approximately 200,000 new units annually but produces only 50,000, leaving a deficit of 150,000 homes each year. This imbalance has driven housing prices up by nearly 100% since 2004.
KNCCI President Dr. Eric Rutto noted that scaling up construction would not only address housing needs but also generate critical revenue and jobs.
He further highlighted that while demand for office and retail space continues to evolveโdriven by Nairobiโs role as a regional hub for banks, multinationals, and tech firmsโoversupply in the high-end office market is prompting a shift toward flexible leasing terms and co-working spaces.
Retail space, anchored by malls such as Two Rivers, Westgate, Garden City, and Sarit Centre, continues to expand, while growth in e-commerce and manufacturing is fueling demand for modern warehouses and logistics hubs in areas such as Athi River, Tatu City, Ruiru, and Naivasha, supported by major infrastructure investments like the Standard Gauge Railway and the Nairobi Expressway.
ยฉCitizen Digital, Kenya
Continue reading...
